Turn-key Rental Opportunies

[Spencer J.]

Prompted by a discussion with my wife the other night.  As I continue to share with her that I am interested in investing in turn-key properties that are no where near where we live (we are New Englanders) Her question was "Are there any turn-key companies in New England?"  The majority of properties are in Memphis, Chicago, Little Rock, and some parts of Texas.  "Does turn-key not work in areas north of New York City?"  Any input from Biggerpockets members is greatly appreciated.

[Account Closed]

Originally posted by @Scott Speer:

@Brent Coombs...Thanks for the clrification, I didn't see in the thread anything about guarantees for those rents?

@Spencer Jean.....Trying to figure out if you are being sarcastic or not?  If I put on here there are properties for sale in Rochester, NY for $100,000 that rent for $2,100/month you can bet there is, I wouldn't put it up here if it was not true!

 Obviously there is a problem with the property being profitable if the market won't pay even 4 times the gross rents.  High vacancy, taxes?  

Could you post a typical $2100 rental from Craigslist and a $100 000 sale?

[Adam Boyce]

Hi Scott Speer I can't figure out how to message you, can you message me your contact info. Thank you!

[Tom Ott]

Originally posted by @Spencer J.:

Prompted by a discussion with my wife the other night.  As I continue to share with her that I am interested in investing in turn-key properties that are no where near where we live (we are New Englanders) Her question was "Are there any turn-key companies in New England?"  The majority of properties are in Memphis, Chicago, Little Rock, and some parts of Texas.  "Does turn-key not work in areas north of New York City?"  Any input from Biggerpockets members is greatly appreciated.

First off, I'd like to say welcome to the world of REI. It seems like you are on the right path in terms of ideas. You sound like you know what you want, just unsure of where to start.

Turnkeys are great and they are located everywhere! For example, our company rehabs homes and sells them to investors. We also manage them so you do not have to worry about it. It becomes just like any other investment for you. It is a better way of buying and holding. We manage everything from tenant vetting to maintenance.

In terms of markets, I can tell you right now the Midwest is booming. Many people moved out to the costs and Texas a few years ago and real estate took off. It really took off in prices. Homes are very expensive out there now. The Midwest is now starting to see a similar boom, but the real estate is still very affordable!

We have been seeing a large influx of investors in Cleveland. Many people from out of state are buying and holding in the area. They are almost never vacant as well!

We are in Cleveland and things are really booming!

Message me if you have any questions.

[David K.]

@Spencer J. If you are looking for a company that SELLS turnkey rentals in that area, try Return on Rentals. I know they deal in Buffalo. I have a couple duplexes in Buffalo, and their numbers are pretty good.

[Tyisha G.]

Great thread here! 

What are good areas for buy and holds in Rochester?
@Scott Speerand others who have had success here, do you mind sharing more information with me regarding Rochester please?